Compensation Plans

6 Months Ended

May 31, 2021

Jefferies sponsors our following share-based compensation plans: the Incentive Compensation Plan, the Employee Stock Purchase Plan and the Deferred Compensation Plan. The outstanding and future share-based awards relating to these plans relate to Jefferies common shares. The fair value of share-based awards is estimated on the date of grant based on the market price of the underlying common stock less the impact of market conditions and selling restrictions subsequent to vesting, if any, and is amortized as compensation expense over the related requisite service periods. We are allocated costs associated with awards granted to our employees under such plans.

During the six months ended May 31, 2021, Jefferies also granted to certain of our senior executives nonqualified stock options pursuant to the Incentive Compensation Plan that had been granted to these executives during the three months ended February 28, 2021 and were converted to nonqualified stock awards at the discretion of the Compensation Committee of the Board of Directors.

In addition, we sponsor non-share-based compensation plans. Non-share-based compensation plans sponsored by us include a profit sharing plan and other forms of restricted cash awards.

The components of total compensation cost associated with certain of our compensation plans are as follows (in millions):


	Three Months Ended May 31,				Six Months Ended May 31,
	2021		2020		2021		2020
Components of compensation cost:
Restricted cash awards (1)	$	52.9	$	78.7	$	102.0	$	156.0
Stock options and Stock appreciation rights	1.9		—		41.3		—
Restricted stock and RSUs (2)	4.4		6.0		8.6		12.5
Profit sharing plan	1.3		1.3		5.3		5.4
Total compensation cost	$	60.5	$	86.0	$	157.2	$	173.9

(1)The decrease is primarily a result of the accelerated amortization recognized in the year ended November 30, 2020 of certain cash-based awards that had been granted during previous years, which were amended to remove any service requirements for vesting in the awards.

(2)Total compensation cost associated with restricted stock and restricted stock units (“RSUs”) includes the amortization of sign-on, retention and senior executive awards, less forfeitures and clawbacks.

Remaining unamortized amounts related to certain compensation plans at May 31, 2021 are as follows (dollars in millions):


	Remaining Unamortized Amounts		Weighted Average Vesting Period (in Years)
Non-vested share-based awards	$	27.9	2
Restricted cash awards (1)	401.5		3
Total	$	429.4

(1) The remaining unamortized amount is included within Other assets in our Consolidated Statement of Financial Condition.

For detailed descriptions on the Company’s compensation plans, see Note 16, Compensation Plans, in our consolidated financial statements included in Part II, Item 8 of our Annual Report on Form 10-K for the year ended November 30, 2020.